Welcome to our dedicated page for Elbit Sys news (Ticker: ESLT), a resource for investors and traders seeking the latest updates and insights on Elbit Sys stock.
Elbit Systems Ltd. reports developments as a global defense technology company that develops, manufactures, integrates and sustains systems across multiple domains. Its recurring news includes defense contract awards, financial results, annual reporting, and program updates tied to land systems, airborne munitions, rocket artillery, active protection systems, C4I and cyber, ISTAR and electronic warfare, and aerospace applications.
Company updates often reference products and systems such as PULS artillery rocket systems, UT30MK2 turrets, Iron Fist active protection systems, and advanced munitions for defense ministries, armed forces and international customers. Coverage also includes customer support, follow-on sustainment, technology transfer arrangements and geographic activity across Israel, North America, Europe, Asia-Pacific and other markets.
Elbit Systems Ltd. has been awarded a contract worth approximately $53 million over two years to provide intelligence suites for a Southeast Asian navy. The contract includes equipping vessels with advanced systems for reconnaissance, featuring a range of technologies such as AES-212 electronic intelligence systems, NATACS naval tactical communication intelligence, and various sonar systems. This deal reflects a rising demand for maritime solutions, according to Elad Aharonson, General Manager of Elbit Systems ISTAR Division.
Elbit Systems Ltd. (NASDAQ: ESLT) received a notice of deficiency from Nasdaq regarding compliance with the independent director requirement. Following the resignation of independent director Moshe Kaplinsky on June 17, 2020, the board's composition now fails to meet the required majority of independent directors. Elbit Systems plans to address this within regulatory timeframes by identifying a new candidate for election. Until then, the notice does not impact its Nasdaq listing status if compliance is achieved in time.
HAIFA, Israel, June 22, 2020 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) has secured a $38 million contract from the Israeli Ministry of Defense for the operation, maintenance, and logistic services of the T-6 trainer aircraft fleet for the Israeli Air Force (IAF). This contract, covering the next five years with a potential extension, continues Elbit's decade-long support to the IAF, enhancing flight safety and operational efficiency during cadet training. Elbit also operates other IAF fleets.
On June 17, 2020, Elbit Systems Ltd. (NASDAQ: ESLT) announced the resignation of Mr. Moshe Kaplinsky from its Board of Directors. Elected as an External Director in March 2020, Kaplinsky stepped down to prevent potential conflicts of interest following his recent appointment as CEO of Oil Refineries Ltd. (Bazan). Elbit Systems acknowledged his contributions and confirmed that it will act swiftly to identify a new External Director to maintain compliance with Nasdaq Listing Rule 5605(b)(1), ensuring Independent Directors continue to hold a majority on the Board.